On March 6, Zhejiang Jindun Fans Co.Ltd(300411) announced that it had recently received the notice issued by the people’s Procuratorate of Zhejiang province that the company applied to the people’s Procuratorate of Zhejiang Province for procuratorial supervision because it did not accept the two civil judgments made by the higher people’s Court of Zhejiang province that the plaintiffs were Zhongcai Investment Promotion Group Co., Ltd. and Jinyao (hereinafter referred to as “Zhongcai investment promotion case” and “Jinyao case”), The people’s Procuratorate of Zhejiang Province has decided to lodge a protest and reported to the Supreme People’s Procuratorate on March 1, 2022.
At the beginning of 2018, Zhejiang Jindun Fans Co.Ltd(300411) fell into a series of difficult litigation disputes because the official seal was forged, borrowed in the name of a listed company and provided guarantee. The case of China finance investment promotion and the case of Jin Yao also became the most “tangled” case between the two sides.
cases with the same sentence
Looking back on the whole process of litigation between Zhejiang Jindun Fans Co.Ltd(300411) and CICC merchants and Jin Yao: in April 2018, CICC merchants and Jin Yao filed a lawsuit with Hangzhou intermediate people’s court, which ruled to reject the case on the grounds that the case involved a criminal offence. After Zhongcai merchants and Jin Yao appealed, Zhejiang high court revoked the ruling of Hangzhou intermediate people’s court and instructed Hangzhou intermediate people’s court to continue the trial. After hearing the case, the Hangzhou intermediate people’s court ruled in December 2019 to reject the litigation claims of CICC merchants and Jin Yao against the listed company. After Zhongcai merchants and Jin Yao appealed, the Zhejiang high court made a final judgment in April 2020 and found that the guarantee was invalid, but Zhejiang Jindun Fans Co.Ltd(300411) should bear 1 / 3 and 1 / 2 of the liability for compensation.
In December 2020, Zhejiang Jindun Fans Co.Ltd(300411) application for retrial was rejected by the Supreme People’s court. Since then, Zhejiang Jindun Fans Co.Ltd(300411) again applied to the Zhejiang Provincial People’s Procuratorate for procuratorial supervision, requesting the Supreme People’s Procuratorate to lodge a protest to the Supreme People’s court according to law, requesting to revoke the civil judgment made by the Zhejiang high court, change the judgment, reject the prosecution of the plaintiffs in the two cases or reject their claims. In May 2021, Zhejiang Provincial People’s Procuratorate accepted the company’s application for procuratorial supervision.
It is worth noting that of the more than 40 lawsuits and arbitration cases involving Zhejiang Jindun Fans Co.Ltd(300411) by “false official seal”, China finance investment promotion case and Jinyao case are the only two cases in which listed companies are judged to be partially liable for compensation.
According to the judgment, the Zhejiang Provincial High Court cited four cases as the reference of the judgment and held that: “the signing representative of the listed company exceeded his authority and the guarantee contract was invalid; the guarantor had improper internal management and should bear half of the compensation liability to the creditor for the part that the main debtor could not pay off.” However, the legal representative of the listed company involved in the four reference cases is stamped with the real and effective official seal of the listed company, which is different from the forged official seal of the listed company stamped by the non legal representative in the Zhejiang Jindun Fans Co.Ltd(300411) case.
In this regard, A relevant lawyer told the reporter of Securities Daily: “minutes of nine people” It is proposed to distinguish whether the creditor is in good faith when signing the contract and determine the effectiveness of the contract respectively: if the creditor is in good faith, the contract is valid; On the contrary, the contract is invalid. When signing a contract with a listed company, creditors shall be obliged to check the articles of association of the company. Knowing that the guarantee contract does not comply with the provisions of the articles of association, and without verifying the authenticity, the plaintiff cannot be regarded as bona fide and no fault, and the listed company shall not be liable. “
The above-mentioned lawyer also mentioned to the reporter: “the measures for the implementation of the unified application of laws of the Supreme People’s court has been officially implemented on December 1, 2021, which further defines the situation and scope of the retrieval of similar cases, defines the production norms of the retrieval instructions or reports of similar cases, strengthens the requirements of the prosecution system of similar cases, and promotes the ‘simultaneous judgment of similar cases’.”
listed company’s main business back on track
It is reported that Zhejiang Jindun Fans Co.Ltd(300411) had previously accrued estimated liabilities of about 130 million yuan in the 2019 annual report and 2020 annual report on the China finance investment promotion case and Jinyao case Zhejiang Jindun Fans Co.Ltd(300411) said that if the Supreme People’s Procuratorate protested the above two cases to the Supreme People’s court, and the Supreme People’s court made a judgment on reducing or not assuming compensation liability after hearing them, it would be conducive to increasing the company’s current or future profits. However, the final results of the above two cases cannot be determined, and there is uncertainty about the impact on the company’s current or future profits.
In fact, over the past three years, Zhejiang Jindun Fans Co.Ltd(300411) main business has returned to normal. As for the impact of “guaranteed” on listed companies, Zhejiang Jindun Fans Co.Ltd(300411) relevant responsible persons believe that the judgments of China finance investment promotion case and Jinyao case have seriously damaged the rights of the company and its investors, especially small and medium-sized investors, and the legitimate rights and interests of the company must be safeguarded.
Zhejiang Jindun Fans Co.Ltd(300411) chairman Wang miaogan told the reporter of Securities Daily that at present, the board of directors and management of the company are stable and the company’s strategy can be effectively implemented. In the previous trough period, the company’s R & D team still kept promoting R & D work. In the future, the company will continue to increase R & D investment, so that the product technology level of the company’s R & D will always remain at the leading level in the industry, open the gap with peers and improve the competitiveness of the industry.
In the first three quarters of 2021, Zhejiang Jindun Fans Co.Ltd(300411) achieved an operating revenue of 360 million yuan and a net profit attributable to the parent company of 27.137 million yuan, an increase of 22.5% year-on-year. The operating performance improved. At the same time, the company disclosed the letter of acceptance one after another.
In addition, Zhejiang Jindun Fans Co.Ltd(300411) recently obtained the approval of the design and manufacturing license of nuclear grade fan for R Project issued by the State Administration of science, technology and industry for national defense. The company will design and manufacture relevant nuclear safety equipment within the scope and conditions specified by the State Administration of science, technology and industry for national defense. Wang miaogan said that with the increase of the company’s R & D investment in military nuclear power and the acquisition of various qualifications, the military nuclear power module is expected to become an important performance growth point of the company in the future.
